Financial statements - FRS 102 Section 1A Small Entities

The small company templates offer a convenient way to produce financial statements in iXBRL format which meet the requirements of FRS 102 Section 1A Small Entities.

FRS 102 is the Financial Reporting Standard applicable in the UK and Republic of Ireland, and Section 1A permits a small company to reduce the amount of information contained in its annual financial statements.

A company will qualify as small if it does not exceed at least two of these annual thresholds:

Turnover threshold: £10.2M

Balance sheet assets threshold: £5.1M

Employees threshold: 50 on average

Note that the templates are for companies limited by shares, not limited by guarantee.

How does it work?

The templates run in Microsoft Excel on the Windows operating system. You should also have a modern web browser installed. Use the Download button to get a copy of the template which you can save on your computer.

After you have entered data into the template, at any time you can freely generate the financial statements on the fly to make sure they are correct.

To create the financial statements in iXBRL format, set up a user account using the Register button below, or from within the template itself.

The iXBRL format financial statements are produced in an instant, and can be saved on your computer to submit to HMRC with the company tax return.

The cost of a single small company iXBRL conversion credit is £30, less if you buy multiple credits, and you can purchase conversion credits via PayPal using the Buy button below.